It has been a rough few months for the crypto market – with Bitcoin posting consecutive losses for an unprecedented number of weeks.
And the decentralized autonomous organization behind an AI-powered DeFi crypto portfolio says the current downturn illustrates why traders need sophisticated tools to stay ahead of the curve.
SingularityDAO’s flagship product, DynaSets, went through closed beta testing between December and March – and now testing continues in an open environment.
By the end of June, V1 will be officially launched and will be complemented by an overhaul of the user interface – giving DynaSets customers an intuitive experience matched by vibrant branding.
While a long-only trading strategy was used during the beta phase, the team will roll out options to short the market and apply leverage to trades at the launch of V1.
After the close of beta, all three DynaSets beat the market by more than 15% and outperformed many of the leading crypto funds. While the current open beta has yet to be finalized, the numbers bolster Dynasets’ effectiveness and their ability to protect companies during bear markets.
SingularityDAOs CEO, Marcello Mari, told Cointelegraph: “Current market conditions clearly demonstrate the need for AI-powered decentralized wealth management solutions to support decision-making.
“This should be available to everyone, not just those who can afford and use enterprise-level trading tools. The results from DynaSets are extremely encouraging and show us that we are on the right track, especially with a view to the release of our advanced V1. platform.”
The issue of access is important, especially in the world of digital assets, which is designed to be a level playing field where ordinary investors have the same opportunities as investors with millions of dollars in the bank.
How does it work?
SingularityDAO says its dynamic asset manager is powered by artificial intelligence – tracking market trends and managing assets. DynaSet transactions are aggregated to ensure that users end up spending less on transaction fees.
Other features include staking, not to mention an untethered staking program that means users can revoke their tokens at any time. While the latter feature may not offer the greatest benefits, it can provide peace of mind and much-needed flexibility given the turbulence we’re seeing in the market right now.
Elsewhere, SingularityDAO’s Launchpad showcases only the best new products – from within its own ecosystem, as well as from interesting external concepts.
Become chain agnostic
Over time, SingularityDAO says it has the ambition to become chain agnostic – giving users the freedom to bridge to whatever chain they want. This is a much-needed boost when it comes to interoperability and eliminating the silos created in the blockchain world.
Looking ahead, a DeFi dashboard will allow users to take advantage of “advanced insights” in their portfolios – separating the signal from the noise and exposing trends that other data platforms may have missed. Knowledge is power, and bear markets expose new challenges for investors vying to protect their capital.
In May 2022, SingularityNET and SingularityDAO entered into a $24 million commitment with LDA Capital Limited as it accelerates its product roadmap and ensures AI tools are more widely adopted. An announcement quoted figures suggesting the global AI software market will reach $126 billion by 2025.
A DynaSet on BNB Chain is scheduled for late June – and as we head into the third quarter of this year, an AI-automated DynaSet will be launched for the first time, automatically rebalancing the tokens using trading bots and ensuring that that human traffickers are kept informed at all times. DynaSets will also make their debut on EVM-compatible blockchains such as Avalanche.
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